What Is Cryptocurrency And How To Buy A Cryptocurrency

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By : Raam Dhakad

KYD - Personal Finance

In today's Technical world, cryptocurrency is a term that is becoming more and more popular every day. To some, this may seem like the technology of the future.

But the truth is that blockchain technology and crypto coins have revolutionized the way we store and transfer our money.

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Fiat money (US Dollar, Euro, Rupee and Yen) usually comes to mind when people think of currency.

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Usually people think of fiat money with currency in their mind, but cryptocurrency is completely different from fiat money, which is legal tender issued by the government.

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A cryptocurrency is a type of digital or virtual currency that usually only exists electronically.

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Cryptocurrencies are created using cryptographic techniques. Cryptographic techniques make it nearly impossible to counterfeit or double spend.

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If you are also thinking of investing in cryptocurrency, then let's know how you can invest in it.

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Buying cryptocurrencies can be a bit confusing for any newbie, if you are also new to the crypto world. You can start investing in cryptocurrencies by following these easy steps.

The first thing you need to do to buy cryptocurrencies is to choose a crypto exchange or broker. The most well-known cryptocurrency exchanges are Coinbase, Gemini and Binance.

STEP - 1

STEP - 1

Once you have selected a broker or exchange for your crypto investment, you need to open an account on it and verify it.

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STEP - 2

STEP - 2

Once you have verified your account, you have the right to buy and sell, but this also requires a few dollars in your account.

STEP - 3

STEP - 3

You can also deposit money into your crypto account by linking your bank account, authorizing a wire transfer or paying with a debit or credit card.

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STEP - 4

STEP - 4

You can buy any cryptocurrency when you have money in your account. You can buy any cryptocurrency coins you want to buy.

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STEP - 5

STEP - 5

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